Recommended Posts

It is apparent that Ripple is no longer the new kid on the block in regards to its ILP and the many uses of its native currency xrp. There are now over 5 groups, and more will surface I'm sure, that are wanting a greater slice of the old big boys club dealing with the old legacy banking systems. Does anyone have any input on this developing scenario. I am of the take that competition is needed to improve on a companies methods and systems better enabling them to scale and improve with serious competitors. I would like to hear from others on what the landscape may hold for Ripple given the new string of competition now in view.

Sir David Walker with Setl stated "By simplifying the process of payments and settlement Setl should be able to deliver significant operational efficiencies which will benefit all market participants, and most importantly, reduce costs borne by savers and investors." Setl is "a blockchain project that aims to streamline the way assets are exchanged" http://www.coindesk.com/bitcoin-and-trading-execs-team-up-to-disrupt-settlement/ According to Setl this is a proof of stake project.

So here are the known distributed ledger competitors and granted some may not even be a concern for Ripple but I think they bring serious platforms to the arena.

Share this post

Link to post

Share on other sites

OK. I have not read this article on R3CEV. I will read this and appreciate your input. This is very encouraging to know. I know that Ripple has the first mover advantage over current seeming competitors so a relief to know that R3 is looking to learn from Ripple's experience. Thanks T8493

Share this post

Link to post

Share on other sites

OK. I have not read this article on R3CEV. I will read this and appreciate your input. This is very encouraging to know. I know that Ripple has the first mover advantage over current seeming competitors so a relief to know that R3 is looking to learn from Ripple's experience. Thanks T8493

Another quote. Mr. Belinky from Santander:

Quote

And R3 is sort of protocol agnostic right. So I would imagine that once they arrive at whatever use case they want to attack, or if they arrive at a payment use case, then I would imagine that they would at least consider Ripple as one of the options to implement it.

We totally respect what they (=R3CEV) are trying to do and we have had some good discussions. I think there is ways we can work together and help each other, since we are kind of focused on different components of where the tech is going.

Share this post

Link to post

Share on other sites

You know, i stand corrected here. I thought that some of these protocols where direct competition with Ripple but now i understand that Ripple really does have the first mover advantage here against all other distributed ledgers that are vying for a slice of this $14 trillion dollar market. Ripple is in a similar position as Bitcoin was in 2009 when Bitcoin was the first successful digital currency to survive as a viable answer to the internet's double spend problem. Bitcoin remains the number one leader inspite of its scalability challenges and is transaction speed. Not many will doubt this to be true. Ripple is in a beautiful position to take the lead with their niche market which is very specialized, if you ask me. They have taken the bull by the horns and stuck to their goal of targeting a specific legacy market and to be the best in that market. I am in full anticipation of the tsunami impact that this company is having and its awesome outcome.